Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1887-05-14
DAKOTA BANKING.
How the People of That Territory Stand
by Their Friends,


ran across a New York man the
other day who is largely interested in
the banking business of Dakota. The
conversation drifted into discussion
of the character of the people out
there. They may be rough in their
manners" said he, "and mcouth in
their ways, but they stand by a man
when he is in trouble and they never
forget friend, ! had an opportuni-
ty," he went ON, 'to test this trait not
many years ago. The bank of the
town where | was staying found it
self greatly embarrassed one fine day
by the failure Of its principal cores
pondcnt in the Territory This fact
became known late in the afternoon
of the day that the news of the failure
reached the town. A run on the bank
the following morning was inevitable.
TO meet it there was but six thousand
dollars in the vaults. The remainder
of the assets could not Immediately be
turned into ready cash. The president
of the bank was ut his wits ends, He
didn't know what to do. Morning
came and he decided to close tho bank.
He was about TO give the necessary or
dcrs when in walked committee of
the leading merchants Of the place.
They asked for an explanation of the
situation. 1t was given to them and
likewise an opportunity to look at the
| books. A short examination sullccd
to show that the bank was only tenn
porarily embarrassed. They said to
the president: You open the doors at
ten O'Clock as usual and pay the de-
positors; we'll see you through this
thing. But how are you going to dc
it?' said the president; i have but siN
thousand dollars here and there are at
least thirty thousand dollars in deposit,
to be met. Half of that sum is clam
oring ON the sidewalk now Never
mind, you open the bank and &C
ahead, said the committee, and We
will see you through.
"Well, the bank was opened and il
rushed the dcpositors and out went thc
money. The pile of grccnbacks on til,
cashiers desk grew smaller an,
smaller and the crowd of dcpositor
continued to increase with ever,
minute. Still the paying at th'
tcller's window went on. On the side
walk the people who had drawn thei
money were met by some of the mcr
chants who had promised to see tn
bank through What are you going f
do with your money! they would .'k
4 don't know, came the answer. SUI
pose youleavc it with lis; You know on
house and know that we are rcSponS
Bile. We will give You note and :
much interest, 70 the farmers Go
the majority of dcpositors wer
farmcrs) the money in their pocket
~horo It drow no i,ttorost was of littl
use; they preferred, of course, tn
notes and were without difficulty pen
suaded to part with their money. \
soon as they had received the none
the merchants would deposit ii in til
bank. The same money was paid ovt
the counter three times or oftencr
the course of the day, and when tt
bank closed at three o'clock in tn
afternoon it had in its vaults as niue
money as it had started with in tn
morning, and with $1,000 it had pal
over 500 600 of deposits. The promp
ness with which it met the demands ,
the dcpositors staid the panic and IL
next morning there was not the Sigh
, est indication of run. This is an al
sOlutcly true story said my inform
ant in conclusion, "for | was mysc
the president of that bank Now ca
you match that by any thing in Il
, East?'- Washington Letter.